Drugmaker Wockhardt expects to pay off external debt of ?110 crore and invest in clinical trials of innovative antibiotic pipeline including its lead novel drug WCK5222 undergoing global phase-3 study, following capital raise of ?480 crore through qualified institutional placement (QIP).
Wockhardt NCE, WCK 4873 named as Nafithromycin was comparatively evaluated in multi-centre double blind Phase 3 pneumonia study employing the last-line respiratory antibiotic Moxifloxacin.
Wockhardt to reduce debt against share pledge to 26% from 65% now in FY24
Wockhardt Limited, the Pharmaceutical and Biotechnology major, reported its 4th Quarter Results for Financial Year 2022-23.
Mumbai: Drug maker Wockhardt and its three directors have settled a securities law violation case with the Securities and Exchange Board of India (Sebi) by paying a total amount of ?76.68 lakh as settlement charges. nnnRead more at: nhttps://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/wockhardt-its-directors-settle-case-with-sebi/articleshow/100428464.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Drug firm Wockhardt plans to roll out two vaccines within a year from its UK-based facility as part of a tie-up with Serum Institute of India, a top company official said. Last year, a Wockhardt unit tied up with a subsidiary of Serum Institute of India to set up a vaccine manufacturing facility in Wrexham, North Wales (UK).
Indian drug maker Wockhardt has shut down its manufacturing facility at Morton Grove, Illinois, as part of its business restructuring in the US. The company expects the US plant shutdown and transfer of products from inhouse to third-party contract manufacturers to help save $12 million annually, while maintaining the sales run rate with a 40% gross margin.
Continued pricing pressures in the US and European markets coupled with regulatory overhang and cost inflation will affect profit margins of major Indian pharmaceutical firms, ratings agency Icra said on Thursday.
Certain promoter group entities of Wockhardt Limited have disposed-off a part of their equity shareholding in the Company aggregating to 77,60,000 shares of the existing Total Voting rights of the Company through open market sale on Stock Exchanges platform. The proceeds of the issue has been/will be reinvested in the company and to meet its own business requirements.
Morton Grove Pharmaceuticals, a generics manufacturer and subsidiary of Mumbai-based drug company Wockhardt, has agreed to discontinue all manufacturing, processing and drug distribution from its Illinois site after the Department of Justice accused it of selling adulterated drugs.